Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 26-CRA-01, Termination of Redevelopment Agreement by and among the City of Port St. Lucie, the City of Port St. Lucie Community Redevelopment Agency, PSL City Center, LLC and DeGuardiola Properties, Inc.
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Submitted By: Jennifer Davis, Director, Community Redevelopment Agency
Executive Summary (General Business): The City of Port St. Lucie Community Redevelopment Agency ("Agency") desires to terminate the City Center Redevelopment Agreement to enable development within the Walton & One Project.
Presentation Information: Staff will provide a brief presentation, if requested.
Staff Recommendation: Move that the Board approve the Resolution.
Alternate Recommendations:
1. Move that the Board amend the recommendation and approve the Resolution.
2. Move that the Board not approve and provide staff additional direction.
Background:
In August 2005, a Redevelopment Agreement was executed by and among the City of Port St. Lucie, the City of Port St. Lucie Community Redevelopment Agency ("Agency"), PSL City Center, LLC and DeGuardiola Properties, Inc. The Redevelopment Agreement was recorded on August 10, 2005, in Official Records Book 2329, Page 187 of the Public Records of St. Lucie County, Florida and was subsequently amended as follows:
* First Amendment to Redevelopment Agreement recorded on October 27, 2005, in Official Records Book 2398, 811 of the Public Records of St. Lucie County, Florida
* Second Amendment to Redevelopment Agreement recorded on March 16, 2006, in Official Records Book 2510, 1695 of the Public Records of St. Lucie County, Florida
* Third Amendment to Redevelopment Agreement recorded on May 5, 2006, in Official Records Book 2554, Page 750 of the Public Records of St. Lucie County, Florida
* Fourth Amendment to Redevelopment Agreement recorded on November 16, 2006, in Official Records Book 2702, Page 2948 of the Public Records of St. Lucie County, Florida
* Fif...
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